All Forum Posts by: Leen Sha

Oh geez. You can’t say just a soft tissue injury, that’s one of the worst. No way to medically prove anything specific on the injury so judgement is completely subjective.

You can’t buy insurance for a claim that has already occurred. Moving property into anything will be reversed by the court.

Her only bet is an attorney, if suit is filed.

Your friend should seek legal advice. Most auto policies include a defense obligation that means If there is a possibility that the auto policy covers the loss, the insurer is likely obligated to hire a lawyer to defend your friend against any suit, and/or settle it within the policy limits.

The issue here seems to be that the liability may exceed the limits of the policy. Unfortunately, as a general rule you, cannot purchase insurance to cover a loss that has already occurred so purchasing additional limits is likely not an option.

So if there is a judgment entered against your friend, and your friend does not pay it, the injured party may attempt to levy against your friend’s assets to secure the judgment.

Most jurisdictions also have laws to protect plaintiffs when a defendant attempts to hide assets to avoid having to pay a judgment. In some cases transferring an asset to another name or entity may amount to a fraudulent transfer, exposing the person to additional liability. A lawyer licensed to practice in the jurisdiction can advise as to specifics of what, if any, options are available to your friend, and to advise her in how to weigh any options and the risks and benefits that may be involved.

If homestead is only 125K buy insurance.

What are homestead protections there? For instance, in FL there is no cap on value. That is why OJ bought in FL.

Her best option would be to sit tight and see what happens. If a suit is filed and they win something she is obligated to step up and pay. Hiding her assets would not be appropriate to the individual filing suit if she was at fault. That's life.

Insurance company determined that she was at fault but she does not agree and I would like you to suggest what was asked instead responding your philosophical view of life.

You would lose homestead if putting the property in an LLC. If worried about lawsuits, there are a myriad of other ways to protect yourself.

Just making sure that even in WA state ...one would loose homestead protection / what about capital gain tax limit of $250,000?

can you please indicate other options to shield from lawsuits?